§ 1201.2. Definitions.
The following words and terms, when used in this subpart, have the following meanings, unless the context clearly indicates otherwise:
ApplicantA person who, on his own behalf or on behalf of another, is applying for permission to engage in any act or activity which is regulated under this subpart. If the applicant is a person other than an individual, the Board will determine the associated persons whose qualifications are necessary as a precondition to the licensing of the applicant.
BeginnerA participant who has entered fewer than 51 contests offered by a single licensed operator or who does not meet the definition of highly-experienced player.
Entry feeThe cash or cash equivalent paid by a participant to a licensed operator to participate in a fantasy contest.
(i) An online fantasy or simulated game or contest with an entry fee and a prize or award in which all of the following apply:
(A) The value of all prizes or awards offered to winning participants is established and made known to participants in advance of the contest and the value is not determined by the number of participants or the amount of any fees paid by those participants.
(B) All winning outcomes reflect the relative knowledge and skill of participants and are determined by accumulated statistical results of the performance of individuals, including athletes in the case of sports events.
(C) The winning outcome is not based on the score, point spread or performance of a single actual team or combination of teams, or solely on a single performance of an individual athlete or player in a single actual event.
(ii) The term does not include social fantasy contests.
Fantasy contest accountThe formal electronic system implemented by a licensed operator to record a participants entry fees, prizes or awards and other activities related to participation in the licensed operators fantasy contests.
Fantasy contest licenseA license issued by the Board authorizing a person to offer fantasy contests in this Commonwealth in accordance with this subpart.
Fantasy contest terminalA computerized or electronic terminal or similar device within a licensed facility that allows participants to do all of the following:
(i) Register for a fantasy contest account.
(ii) Pay an entry fee.
(iii) Select athletes for a fantasy contest.
(iv) Receive winnings.
(v) Otherwise participate in a fantasy contest.
Highly experienced player
(i) Any participant who has done all of the following:
(A) Entered more than 1,000 fantasy contests.
(B) Won more than three fantasy contest prizes or awards valued at $1,000 or more.
(ii) Once a participant is classified as a highly-experienced player, a player shall remain classified as a highly-experienced player.
Key employeeAn individual who is employed by an applicant for a fantasy contest license or a licensed operator in a director or department head capacity or who is empowered to make discretionary decisions that regulate fantasy contest operations as determined by the Board.
(i) The physical land-based location at which a licensed gaming entity is authorized to place and operate slot machines and, if authorized by the Board, to conduct table games or interactive gaming, or both.
(ii) The term includes any of the following:
(A) An area of a licensed racetrack at which was previously authorized under 4 Pa.C.S. § 1207(17) (relating to regulatory authority of board) to operate slot machines prior to the April 28, 2018.
(B) A Board-approved interim facility or temporary facility.
(C) An area of a hotel which the Board determines is suitable to conduct table games.
(D) An area of a licensed facility where casino simulcasting is conducted, as approved by the Board.
(iii) The term does not include a redundancy facility or an interactive gaming restricted area which is not located on the premises of a licensed facility as approved by the Board and which is maintained and operated by an interactive gaming certificate holder in connection with interactive gaming or casino simulcasting.
Licensed operatorA person who holds a fantasy contest license.
ParticipantAn individual who participates in a fantasy contest, whether the individual is located in this Commonwealth or another jurisdiction.
PersonA natural person, corporation, publicly traded corporation, foundation, organization, business trust, estate, limited liability company, licensed corporation, trust, partnership, limited liability partnership, association or any other form of legal business entity.
PrincipalAn officer, director or person who directly holds a beneficial interest in or ownership of the securities of an applicant for a fantasy contest license or a licensed operator, a person who has a controlling interest in an applicant for a fantasy contest license or a licensed operator or who has the ability to elect a majority of the board of directors of a licensed operator or to otherwise control a licensed operator, lender or other licensed financial institution of an applicant for a fantasy contest license or a licensed operator, other than a bank or lending institution which makes a loan or holds a mortgage or other lien acquired in the ordinary course of business, underwriter of an applicant for a fantasy contest license or a licensed operator or other person or employee of an applicant for a fantasy contest license or a licensed operator deemed to be a principal by the Board.
Prize or awardAnything of value worth $100 or more, or any amount of cash or cash equivalents.
Publicly traded corporationA person, other than an individual, who:
(i) Has a class or series of securities registered under the Securities Exchange Act of 1934 (15 U.S.C.A. § § 78a78qq).
(ii) Is a registered management company under the Investment Company Act of 1940 (15 U.S.C.A. § § 80a-180a-64).
(iii) Is subject to the reporting requirements under section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C.A. § 78o(d)) by reason of having filed a registration statement that has become effective under the Securities Act of 1933 (15 U.S.C.A. § § 77a77aa).
ScriptA list of commands that a fantasy contest related computer software program can execute that is created by a participant or third party not approved by the licensed operator to automate processes on a licensed operators fantasy contest platform.
Season-long fantasy contestA fantasy contest offered by a licensed operator that is conducted over an entire sports season.
Social fantasy contestA fantasy contest which meets one or more of the following criteria:
(i) Nothing is offered to participants other than game-based virtual currency that cannot be redeemed for cash, merchandise or anything of value outside the context of game play.
(ii) The contest is free to all participants.
(iii) The entity offering the contest does not receive compensation other than an administrative fee for the maintenance of statistical information in connection with the contest.
(iv) The winnings offered are of no greater value than the lowest individual fee charged to a single participant for entering or participating in the contest.
(v) The contest encompasses an entire season of the activity in which the underlying competition is being conducted and the winnings offered, if any, are determined by agreement of the participants only to distribute fully the participants contributions to a fund established to grant the winnings for the contest.
Suspicious transactionA transaction between a licensed operator or an employee of a licensed operator and an individual that involves the acceptance or redemption by a person of cash or cash equivalent involving or aggregating $5,000 or more which a licensed operator or employee of a licensed operator knows, suspects or has reason to believe:
(i) Involves funds derived from illegal activities or is intended or conducted to conceal or disguise funds or assets derived from illegal activities.
(ii) Is part of a plan to violate or evade a law or regulation to avoid a transaction reporting requirement under the laws or regulations of the United States or the Commonwealth, including a plan to structure a series of transactions to avoid a transaction reporting requirement under the laws of the United States or the Commonwealth.
(iii) Has no apparent lawful purpose or is not the type of transaction in which a person would normally be expected to engage and the licensed operator or employee knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction.
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.